2013 is shaping up to be a very strong year for Wisconsin’s real estate marketplace. It’s also shaping up to be a very strong year for the WRA. Our markets and our association have come a long way in the past few years, and the future is looking bright.
In the first six months of the year, housing sales in Wisconsin were up 11 percent over 2012. Prices were up too, nearly 8 percent. In July, sales beat last July by more than 17 percent, with prices up 9 percent. Our statewide median price is up to $155,299. New listings are up, but demand is up even more, and thus our inventories continue to fall. Housing supply is down 20 percent from last July to about 10 months’ worth of inventory. More jobs and less unemployment help offset higher prices and mortgage rates. It’s a balanced and active market.
With an active market at the height of the selling season (historically 43 percent of home sales in Wisconsin occur between May and August), most REALTORS® don’t think much about their association. But during this busy time, WRA leaders invested long hours to design and adopt a new association budget — a budget that demonstrates the association is enjoying the same resilience and strength seen in the market.
The $4.9 million budget adopted unanimously by the WRA board of directors at their August meeting contains no dues increases, reserves of 60 percent of the operating budget and based on an estimated 88 percent membership renewal rate. The association is also projecting a healthy ending balance at the end of the current fiscal year.
The directors also reviewed every department of the WRA and found strength in each. They reviewed the new WRA strategic plan in its final form; reviewed convention plans including a 5k walk/run to benefit the Wounded Warrior Project; saw plans for a revolutionary new distance learning product to deliver WRA education online; and reviewed an aggressive legal action strategy with cases regarding wind turbines, copyrighted MLS data, an ordinance preventing conversions of homes to rentals, broker commission judgments and legal fees in arbitration cases, to name a few. The directors also reviewed WRA victories in the recent state budget bill involving taxes, local fees, land records and a prohibition of any local laws regulating real estate brokers or brokerage services. Finally, they reviewed political fundraising totals above last year at this time and participation in NAR Calls to Action that beat the national average.
These are signs of a strong association. A strong market, strong budget, strong reserves, strong education, strong communications, strong legislative action, strong political involvement and strong member engagement.
This success doesn’t just happen. It takes an extraordinary effort by some extraordinary REALTORS® who invest a great amount of time and effort into making the WRA operate at this high level of success. And none deserve more credit than the WRA’s outgoing chairman of the board, Renny Diedrich of Coldwell Banker The Real Estate Group in Appleton. Under Renny’s leadership this year, the association completed a significant strategic planning process; hired new investment advisors and revamped our investment policies; launched a major reorganization of the Wisconsin REALTORS® Foundation; initiated efforts to involve more woman leaders in the WRA; promoted knowledge and use of new business technologies; and presided over an aggressive legislative, legal and political agenda. That’s an assertive, proactive agenda that will make us a stronger organization for years to come, for which Renny deserves every member’s gratitude and thanks.
A robust market means more REALTORS® helping more families realize the American Dream of homeownership and a thriving economy. A robust WRA means effective programs, services, regulations and laws that help create that marketplace to the benefit of our members, consumers, businesses and homeowners. And strong WRA leaders mean both are poised well for continued success for many years to come. The responsibility to keep the WRA effective now falls to our new chairman, Steve Lane of First Weber Group REALTORS® from Stevens Point. Good luck Steve. Let’s all recommit to do our parts to help Steve and his leadership team keep our markets and our association strong.